U.S.-China Trade Talks Conclude Without Tariff Truce Extension

Trade negotiations between the U.S. and China ended without an agreement to extend the current tariff pause, leaving markets to weigh the implications for global commerce. The stalemate emerged from discussions in Stockholm, where U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng addressed contentious issues including semiconductor exports, fentanyl-related tariffs, and China's oil purchases from sanctioned nations.

Meanwhile, in Beijing, Commerce Minister Li hosted a delegation of U.S. corporate leaders, including FedEx CEO Rajesh Subramaniam and representatives from Apple and Thermo Fisher Scientific. Li emphasized China's advancements in smart manufacturing and pledged to maintain a transparent business environment for foreign investors—a nod to ongoing concerns about market access.

The lack of a tariff extension deal injects fresh uncertainty into cross-border trade flows, with particular relevance for technology supply chains. Nvidia's AI chip exports to China remain in limbo, while broader tensions over semiconductor restrictions persist.